On December 27, 2010, registrant and Sun Pharmaceutical Industries Limited (“Sun Pharma”), which beneficially owns approximately 76% of the outstanding shares of Caraco, entered into an amendment of their marketing agreement and an amendment of their distribution and sale agreement. The amendments respectively provide that the marketing agreement and the Distribution and Sale Agreement have been extended and will expire on January 28, 2012. In addition, the amendments respectively provide that during the first six months of the second extension or of calendar 2011, the parties shall discuss a transition plan to transition the marketing of the products covered by the respective agreements to Sun Pharma and/or its wholly-owned affiliates and thereafter, at the expiration of the agreements, the parties will implement the transition plan. If the parties fail to reach an agreement or understanding with respect to a transition plan or if they fail to implement a transition plan, the agreements will still expire on January 28, 2012. The foregoing description of the amendments does not purport to be complete and is qualified in its entirety by reference to the text of the amendments included as Exhibits 10.32 and 10.33 hereto. Registrant announced the entering into of the amendments in the press release included as Exhibit 99.1 hereto and incorporated herein by reference.

Site Links

Based on public records. Inadvertent errors are possible. Getfilings.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
This website is not associated with the SEC.